Agricultural machinery associations release survey which points to optimism in the industry worldwide.
Ag equipment manufacturers are optimistic about near-term business expectations in the majority of the world, according to the Agritech Business Barometer from the Agrievolution Alliance. The alliance is an international coalition of ag equipment manufacturing associations that work to advance member companies’ interests in industry issues, data exchange and public policy.
The survey, conducted by the alliance’s Economic Committee twice-a-year, asks senior ag equipment manufacturing representatives about their current business and outlook for their respective markets.
The Agritech Business Barometer covers the U.S., Brazil, western Europe, Japan, India, South Korea and Turkey.
Survey summary results
According to the latest Barometer, the global evaluation of current business remains very positive, and short-term growth expectations are dominant in all regions.
- For the first time in the survey’s history, most Japanese manufacturers have a positive outlook on the market.
- The boom in the Indian and Brazilian markets was confirmed.
- Half of the companies surveyed in the U.S. expect to see sales growth in the next six months, while the rest expect to at least maintain the high level reached in 2012.
- More cautious voices come from Europe, where some markets are declining.
The Association of Equipment Manufacturers (AEM) is Agrievolution Alliance secretariat. “While business remains positive, we have seen fluctuations in commodity supply and demand, especially corn. The next edition of the Farm Bill is being formulated in the U.S. House and Senate, and that also adds some uncertainty for the strength of future business,” stated Charlie O’Brien, AEM senior vice president and agriculture sector leader.
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